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7 Cards in this Set

  • Front
  • Back
109 (a)

requirements of a general debtor
- person
- resides in US
- place of business in US
- property in US
- municipality
109 (b)

cannot be a debtor person under chapter 7 IF
- it is a railroad
- a domestic insurance company
- bank
- savings and loan association
- other domestic banking businesses/ loan businesses
- foreign insurance company engaged in business in US
- foreign bank, savings bank, cooperative bank, etc.
109 (c)

can be a debtor under chapter 9 if entity is...
- municipality
- specifically authorized by State law to be a debtor under this title
- entity is insolvent
- entity desires to effect a plan to adjust debts

- has obtained the agreement of creditors holding a majority of claims of each class

- has negotiated with creditors (described above) in good faith and failed to obtain agreement

- is unable to negotiate with creditors because it is impracticable

- entitle reasonably believes that a creditor may attempt to obtain a transfer that is avoidable under section 547
109 (d)

can be a debtor under chapter 11 if...
- it is a railroad
- it is a person eligible under chapter 7
- an uninsured State member bank
- corporation organized under section 25A of Federal Reserve Act
109 (e)

can be a debtor under chapter 13 if...
- individual with regular income AND

- owing debts (on the date of filing) that are
** noncontingent
** liquidated
** LESS THAN $307,675


** noncontingent
** liquidated
** LESS THAN $922, 975

- same rules for individual and spouse EXCEPT if spouse is
** stockbroker
** commodity broker
109 (f)

who can be a debtor under chapter 12...
- a family farmer
- a family fisherman
109 (g)

when can a family farmer/fisherman NOT be a debtor under chapter 12?
- if he has been a debtor in a case pending under this title at any time in the preceding 180 days

** case was dismissed for WILLFUL FAILURE of debtor to abide by court orders or appear in prosecution of case


** debtor requested and got voluntary dismissal of case following the filing of a request for relief from the automatic stay provided by section 362 of this title.